Edgestream Partners L.P. grew its stake in The Wendy's Company (NASDAQ:WEN - Free Report) by 255.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,909 shares of the restaurant operator's stock after buying an additional 63,883 shares during the period. Edgestream Partners L.P.'s holdings in Wendy's were worth $1,449,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Atria Investments Inc boosted its stake in Wendy's by 78.7% in the third quarter. Atria Investments Inc now owns 94,442 shares of the restaurant operator's stock valued at $1,655,000 after acquiring an additional 41,586 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Wendy's by 6.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 117,025 shares of the restaurant operator's stock valued at $2,050,000 after purchasing an additional 7,558 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Wendy's by 423.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,083 shares of the restaurant operator's stock valued at $107,000 after purchasing an additional 4,921 shares during the period. Entropy Technologies LP purchased a new position in Wendy's during the 3rd quarter worth approximately $1,374,000. Finally, MQS Management LLC increased its position in Wendy's by 100.6% during the third quarter. MQS Management LLC now owns 29,306 shares of the restaurant operator's stock worth $513,000 after buying an additional 14,699 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
WEN has been the subject of several research analyst reports. Barclays increased their price objective on Wendy's from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Friday, March 7th. Wedbush reiterated a "neutral" rating and set a $16.00 price target on shares of Wendy's in a research note on Friday, March 7th. Argus upgraded shares of Wendy's to a "strong-buy" rating in a research note on Tuesday, February 18th. Morgan Stanley reaffirmed an "underweight" rating and issued a $14.00 target price (down from $22.00) on shares of Wendy's in a report on Tuesday, January 21st. Finally, Truist Financial lowered their price target on Wendy's from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Wendy's has a consensus rating of "Hold" and a consensus target price of $18.08.
Check Out Our Latest Analysis on WEN
Wendy's Price Performance
Shares of WEN traded up $0.13 during trading hours on Thursday, reaching $15.38. The company had a trading volume of 471,615 shares, compared to its average volume of 3,914,859. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 2.00 and a beta of 0.73. The Wendy's Company has a 12-month low of $13.72 and a 12-month high of $20.65. The firm has a 50 day simple moving average of $15.01 and a 200-day simple moving average of $16.90. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48.
Wendy's (NASDAQ:WEN - Get Free Report) last issued its earnings results on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The company had revenue of $574.27 million during the quarter, compared to analysts' expectations of $564.17 million. Wendy's had a net margin of 8.65% and a return on equity of 75.56%. Research analysts expect that The Wendy's Company will post 0.99 earnings per share for the current year.
Wendy's Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 6.50%. Wendy's's payout ratio is 105.26%.
About Wendy's
(
Free Report)
The Wendy's Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid's meals.
See Also
Before you consider Wendy's, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wendy's wasn't on the list.
While Wendy's currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
